Tip of Iceberg for Goldman / Wall Street: Beginning of the End!

This is one storm that you should ignore at your own cost. The firm that has single handedly driven Wall Street fortunes for the last decade is now being targeted by the very ones whom it finances and owns, Main Street. Read about eh SEC investigation into the Abacus transaction by Goldman as it took the intermediary role to Paulson and the investors. One may be naive to consider that US government will back away as no one wants a stock market meltdown but it needs to be taken into cognizance that as government goes to the polls next Nov, there will nothing better to show than a decisive victory of Main Street over Wall Street icon, Goldman Sachs. The economy is not getting better any time soon. Jobs are not coming back any time soon either. What does the government take to the voters? A complex health care bill that does not seem to carry any extra benefits in the near term future? Timothy Geithner foolishness and ignorance in giving treasury money to AIG to pay off foreign creditors? Obama noble peace prize? Well when you look the slate board of this government, there is very little to show the public. It is near empty.If one puts ones self in Obama’s shoes here, there is very little Obama will do differently. This is all about politics and now they have got hold of the Gang leader by the scruff of its neck. If the government has the balls it is now going to dig deeper and come out with the filth and mockery that Goldman and Co have involved themselves in over the past 10 years. The Abacus transaction has very little to it and I do not expect Goldman to really suffer too much. Frankly I as an outsider cannot see how Goldman was at fault. SEC has a really weak case. Goldman did a perfect job in marketing and securing a counter party for Paulson fund. Am pretty sure Goldman document has all the risks (albeit in some God forbidden corner) and it would technically have been investors mistake not to have read them. How can Goldman be at wrong?But it is the resultant ramification of the government desire to dig deeper into Goldman and its trasaction and inevitably encounter the trail of lobbying over the last 10 years. There in lies the sins to be judged. There in lies the transgression on the American People and now even the Europeans (GS structured the debt that was sold to Greece in 2003).Reuters reports:Right now only the investors who lost money are scampering for a pound of flesh but wait till Government decides to get into ring. ContrarianShare on Facebook